The Treaty on the establishment of the Eurasian Economic Union comes into effect on January 1. Infographics by TASS

“Today we’ll sign the treaty on Kyrgyzstan’s joining the Eurasian Economic Union. Our Kyrgyz friends together with the Eurasian Commission troika exert serious effort for the adaptation of national legislation to the requirements of the Customs Union and the common economic space. A big number of ‘roadmaps’ has been implemented. It is necessary to gain momentum and jointly complete the work,” Putin said at the EEC summit.

The biggest association with a consumer market of more than 170 million people will come into existence on the post-Soviet space. The association will be guided by the norms and principles of the World Trade Organisation (WTO) and will ensure free movement of goods, services, capitals and labour force. Armenia will also join the EEC. Kyrgyzstan is expected to enter the union on May 1, 2015.

The Treaty on the establishment of the Eurasian Economic Union was signed by the presidents of Russia, Belarus and Kazakhstan on May 29, 2014 in Astana.

The agreement is the basic document defining the accords between Russia, Belarus and Kazakhstan for creating the Eurasian Economic Union for the free movement of goods, services, capital and workforce and conducting coordinated, agreed or common policies in key sectors of the economy, such as energy, industry, agriculture and transport.

The agreement stipulates the transition of Russia, Belarus and Kazakhstan to the next stage of integration after the Customs Union and the common economic space.